1.
ASSIGNMENT 2: OPERATIONS DECISION
IntroductionThis document will briefly describe the details of a fictitious business (X-QUIZIT INC). It will show an assessment of the current environmental scan factors that are relevant to the business decision making process and the factor that will have the greatest impact on the business operations and management’s decision to continue or discontinue its operation. It will also show an evaluation of the financial performance of the company using the information provided in the scenario, with consideration given to all the key drivers of performance such as company profit or loss for both short and long term and how each factor influences managerial decisions. The document will also show recommendation on how the company can improve its profitability to deliver more value to its stakeholders and the development of a plan to implement the recommendations. Finally, it will show an assessment of the circumstances in which the company should discontinue operations and how management should react when confronted with these circumstances. Brief Description of the Fictitious Business Created for Assignment

The name of the business use in this assignment is X-QUIZIT INC (X-QUIZIT). This company is a maker of high end clothing headquartered in New York with fifteen additional stores throughout the United States, with over 250 employees. While the company is known for making several types clothing, including shirts and sport jackets, it specializes mostly in making jeans. Over 50% of its revenue comes from the sale of jeans. The company currently uses over 2.

one hundred of its employees to produce 6,000 units of output per month (working 20days per month). The daily wage per worker is $70, and the price of the firm’s output is $32. The cost of the other variable inputs is $2,000 per day. The firm’s fixed cost is considered high enough, such that the total costs exceed its total revenue. The marginal cost of the last...

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...Assignment 1: OperationDecision
Assume you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It currently uses 100 workers to produce 6,000 units of output per month (working 20 days / month). The daily wage (per worker) is $70, and the price of the firm's output is $32. The cost of other variable inputs is $2,000 per day. It also tells us that the firm's fixed cost is “high enough” so that the firm's total costs exceed its total revenue. The marginal cost of the last unit is $30.
This assignment allows you to determine the specific details about this fictitious company in order to conduct an environmental scan of this company
1. Briefly describe the details of the fictitious business that you created for this assignment.
In this paper, you will learn of a fictitious business, DCM, Inc., based out of Athens, Georgia and is the leading provider of consumers, especially college students, and business-to- organizations of a product known as widgets.
DCM, Inc. employees 100 workers and they have hired in a consultant for advice to help them decide whether it should shut down, or if it has enough work to continue operations. DCM, Inc. was established in 2008 by Denise Brinson, which named the organization after herself, and her two adult children, Christopher and Misti....

...﻿OPERATION MANAGEMENT
Question 1
Briefly explain the activities in Operation Management.
Operations management refers to the activities, decisions and responsibilities of managing the resources which are dedicated to the production and delivery of products and services.The part of an organisation that is responsible for this activity is called the operations function and every organisation has one as delivery of a product and/or service is the reason for existence.
Operations managers are the people who are responsible for overseeing and managing the resources that make up the operations function. The operations function is also responsible for fulfilling customer requests through the production and delivery of products and services.
Although the operations function is central to any organisation, it is only one of the three main core functions, the others being marketing and finance. The marketing function is responsible for communicating the organisation's products and services to its markets and researching customer wants and needs.The finance function is responsible for providing information to assist in economic decision making and the overall management of financial resources.
Question 2
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...difference between the operations management chain for both goods and services?
The operations management cares about the study of how products and services are created in an efficient way while meeting customer needs. The main focus lies in managing the process that convert raw material or human labor into goods and services. According to article written in the Journal of Supply Management by Sengupta, K; Heiser, D; Cook, stated:
“The distinction between the operation management of goods and services chains is that the supply chain, human labor forms a significant component of the value delivery process. In manufacturing supply chain physical handling of a product leads to standardized and centralized procedures and controls. In supply chains, in services this is not entirely possible as many of the decisions are taken locally and the variation and uncertainties in outputs are higher because of the human involvement”
Sengutpta et al (2006) stated that “demand management, customer relationship management and supplier relationship management” are areas in which both share similarities in operation.
Is there a difference between the management of goods and services?
Yes there is, scholars agree that supply chain for service is more complex and difficult for manufacturing than services due to the fact that flow of physical goods and services focuses on human resources capabilities,...

...organization’s operations function is concerned with getting things done i.e. producing goods and/or services for customers. Effectively, the main objective of the operations function is to produce those goods and services required by customers whilst managing resources as efficiently as possible.
2. RELATINSHIP WITH OTHER ORGANIZATIONAL FUNCTIONS
The operations function lies at the heart of any organization and interacts with all the other functions. Although the various organizational functions involve different activities, they must interact to achieve the goals of the organization. This therefore implies that Operation Management decisions are not made in isolation. Rather, each decision is intertwined with other organizational functions following the strategic direction developed at the top level of the organization.
In a nutshell, many of the decisions made by operations managers are dependent on information from the other functions. At the same time, other functions cannot be carried out properly without information from operations as detailed below:
1. Finance: The finance function ties all departments together with monetary measurements that tell whether the company is making money. They also regulate the acquisition of funds to keep the business operations going, and investing money received wisely....

...SERVICE OPERATIONS MANAGEMENT IN HOTELS-AN APPROACH TOWARDS
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Introduction
There is a growing body of literature that examines the impact that operations management has on the expectations and perceptions of customers as preliminary stages for creating customer loyalty (Armstrong et al, 1997, Johnston, 1999, Becker and Murrmann, 1999, Brady et al, 2001, Hope and Potter, 2006, and Hill, 2005). Therefore, the main purpose of this research project is to introduce the concept of operations management in the service sector, discuss the meaning and driving forces of competitiveness in this sector, and report the findings of the operations management practices of ROTANA hotel situated in Al Ain , UAE.
The project will be organized in a way that enables us to answer the following questions:
1. How can operations management be represented as a system?
2. What functional roles does operations management play in an organization and in particular on the service sector?
3. What are some major historical events that influenced the development of operations management in the service sector?
4. What are some trends and issues in the business environment that currently influence operations management?
Operations Management and Its Functional Roles
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...Semester II Examination Papers
IIBM Institute of Business Management
Semester-II
Examination Paper
MM.100
Production and Operation Management
Section A: Objective Type (30 marks)
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This section consists of Multiple choice questions & Short Notes type questions.
Answer all the questions.
Part One questions carry 1 mark each & Part Two questions carry 5 marks each.
Part One:
Multiple choices:
1. If the number of restrictions on sources be ‘a’ and the number of restrictions on destinations be
‘b’ then with the use of ‘stepping stone procedure’, the number of ‘used cells’ will be
a. a+b+1
b. a+b+2
c. a-b-1
d. a+b-1
2. Value of smoothing coefficient ‘α’ lies
a. Between 1 and ∞
b. Between 0 and 1
c. Between -1 and 1
d. Between 1 and 2
3. Forecasting error is
a. The difference between forecasted demand and actual demand
b. The ratio of forecasted demand and actual demand
c. The difference between the standard forecast demand and the evaluated forecast demand
d. Ratio of standard forecast demand and the evaluated forecast demand
4. For forecasting the analyzers plot the demand data on a time scale, study the plot and then look
for the consistent patterns. Now what does the high noise mean to these patterns
a. Many of the point lie away from the pattern
b. Most of the points lie close to the pattern
c. All the points lie on the pattern
d. None
5. Payback period is
a. The length of time after which the production...